The Intraday US Stock Market Discussion Board
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Holding TZA over the weekend.bushwaffle wrote:herejarbo456 wrote:alright, so after that weird last 40 minutes...who's STILL holding shorts over the weekend?
<raising hand> smallish position.
Seeing that you are, and that we sold off hard over the past half hour, I'm much more comfortable about holding short over the weekend. Hopefully the negative news will be a catalyst as well.jarbo456 wrote:alright, so after that weird last 40 minutes...who's STILL holding shorts over the weekend?
<raising hand> smallish position.
Nice, SOKU...Here is a story for you, apropos of Wall Street high achievers:soku wrote:just post to post
What separates the 10% that make money from the 90% that don’t? by Aamar Shehzad
1. 10,000 hours.
In his recent book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that ‘try their hand’ at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million! It is precisely this mindset that has resulted in the current economic mess, a bunch of 20-somethings being handed the red phone for financial weapons of mass destruction. The greatest traders understand that trading much like being a doctor, engineer or any other focused and technical endeavor requires time to develop and hone the skill set. Now you wouldn’t see a doctor performing open heart surgery after 3 months on a surgery simulator. Why would trading as a technical undertaking require less time?
Trading success, comes from screen time and experience, you have to put the hours in!
2. Education, education, education.
3. Think for yourself.
4. Adapt or Die.
5.Fail to plan, you plan to fail.
banger in TMV son! its a bond bearEvilTrader wrote:I saw a lot of bulls prematurely cheering right here on this board.
I have to say that mr. Market is MERCILESS.
Roller Coaster FULL MODE.
Dow Trader:Dow Trader wrote:moved as planned
check this outcougar wrote:Nice, SOKU...Here is a story for you, apropos of Wall Street high achievers:soku wrote:just post to post
What separates the 10% that make money from the 90% that don’t? by Aamar Shehzad
1. 10,000 hours.
In his recent book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that ‘try their hand’ at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million! It is precisely this mindset that has resulted in the current economic mess, a bunch of 20-somethings being handed the red phone for financial weapons of mass destruction. The greatest traders understand that trading much like being a doctor, engineer or any other focused and technical endeavor requires time to develop and hone the skill set. Now you wouldn’t see a doctor performing open heart surgery after 3 months on a surgery simulator. Why would trading as a technical undertaking require less time?
Trading success, comes from screen time and experience, you have to put the hours in!
2. Education, education, education.
3. Think for yourself.
4. Adapt or Die.
5.Fail to plan, you plan to fail.
At a fancy dinner, the gorgeous young girlfriend of a Wall Street billionaire was sitting next to Jack, a friend of mine. He is smart and very witty and the young lady was very pleased with his company. But she could not really figure him out…so she asked a direct question:
“What would you consider the top of your achievements in life?”
“To perform brain surgery on a Wall Street billionaire…” - came promptly the answer.
“Oh…I did not know you were a neurosurgeon…”
“No…I am not…I am a racecar driver…”
